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Industry bodies welcome BJP's manifesto; feel upset at party's stand on FDI in multi-brand retail
Amidst high expectations for much-needed revival of the economic growth, the BJP’s focus in its election manifesto on giving a boost to economy, rationalising and simplification of taxation and restoring investor confidence would be a morale booster, said the Associated Chamber of Commerce and Industry of India (Assocham).

However, the Assocham would continue to impress upon the BJP to reconsider its stand on FDI in multi-brand retail- as the move will only act as a multiplier effect on India’s economy without impacting in any way the neighbourhood kirana stores.

As for the taxation reforms, the industry would urge the BJP to take a lead in building a political consensus between the Centre and the states on the crucial reform of the Goods and Services Tax.

We are also encouraged by the party’s focus on building important infrastructure and giving a boost to urbanisation by building 100 new cities. “The commitment by the BJP Prime Ministerial candidate Narendra Modi to put governance and growth ahead of other issues, is the most welcome development,” the Chamber President Rana Kapoor said.

He said the Assocham is fully committed to cooperate with the new government for full-scale revival of the economy which will be achieved by addressing the issues of inflation, unemployment, growth and the focus on revitalizing the manufacturing sector.

Industry body FICCI's President Sidhartha Birla while reacting on the BJP's manifesto said,"The BJP manifesto outlines multiple measures for inclusive development, with focus on governance, growth and employment. These are arguably the key concerns facing the economy today."

"Besides an investment friendliness, we welcome the openness to FDI linked to creation of assets and employment. Though we feel disappointment on the stand on FDI in Multi-Brand Retail, we hold out hope for a possible review in the future", he added.


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